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Ex-CEO Of Broadcom Pleads Not Guilty To 21 Charges

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Jun 16, 2008 11:01 am US/Pacific

Ex-CEO Of Broadcom Pleads Not Guilty To 21 Charges

SANTA ANA, Calif. (AP) ― Broadcom co-founder Henry T. Nicholas III Monday pleaded not guilty to federal drug and securities fraud charges.

Monday's plea involves 21 counts against the 48-year-old billionaire contained in two indictments unsealed June 5. One indictment details what authorities claim was one of the largest stock-option backdating cases in U.S. history.

The other accuses Nicholas of drugging his business cohorts, hiring prostitutes and maintaining a drug warehouse.

Former Broadcom CFO William J. Ruehle also pleaded not guilty to securities fraud charges.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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